Delhi court grants bail to IITian Ayush Varshney in GainBitcoin
India
Ayush Varshney, an IIT graduate and co-founder of Darwin Labs, just got bail from a Delhi court in the massive GainBitcoin fraud case.
The scheme, run by Variabletech Pte. Limited, lured people with promises of big Bitcoin returns but ended up allegedly misusing investor money.
No direct proof against Ayush Varshney
The judge said there wasn't any direct proof tying Varshney to fraud and pointed out that he had been cooperating with investigators.
Varshney's defense was that his company only built the tech for GainBitcoin: he compared it to a shopkeeper not being responsible for what customers do with what they buy.